EuroCham proposes solutions to address Vietnam’s ongoing power shortages

EuroCham and the broader business community have expressed growing concerns regarding ongoing power shortages in Hanoi and northern Vietnam. Many European companies with production and manufacturing facilities in the region, including numerous EuroCham members, have been adversely affected. Swift action is imperative to preserve Vietnam’s reputation as a dependable global supplier.

EuroCham Vice-Chairman Jean-Jacques Bouflet, in an interview with Reuters, expressed his concerns about the situation and emphasized the need for urgent measures by Vietnam’s Ministry of Industry and Trade (MOIT).

To tackle this urgent issue, EuroCham has intensified our advocacy efforts by writing a letter to the MOIT and proposing a series of short- and long-term measures designed to alleviate the effects.

First and foremost, EuroCham advocates for more communication, ensuring affected companies receive advance notice of scheduled power cuts. By providing specific schedules and durations of power interruptions, businesses will have the opportunity to make necessary arrangements and effectively minimize disruptions to their operations. This proactive approach ensures that affected companies are well-informed and can prepare accordingly, mitigating the negative impact on their productivity and minimizing financial losses.

Secondly, EuroCham strongly advocates for the prioritization of electricity production and emphasizes the need for promoting the development of additional sustainable capacities, such as solar panels, without imposing undue bureaucratic restrictions.

While these short-term measures are crucial for addressing the current power shortage, EuroCham underscores the importance of long-term solutions. For this, EuroCham urges the Ministry of Industry and Trade (MOIT) to concentrate on renewable energy projects, fostering a diversified energy portfolio that can withstand various climate conditions. This approach will contribute to a sustainable future and mitigate power shortages regardless of climatic conditions.

EuroCham remains vigilant in monitoring the developments surrounding the ongoing situation. We are committed to keeping a close eye on any new developments and ensuring that our members are promptly updated on the progress made regarding this issue. Rest assured, EuroCham will continue to provide timely and relevant updates on this matter.